Soybeans are on the list of American goods being targeted by recent tariffs that went into effect last week.
China has responded to the tariffs put into effect by President Donald Trump by cancelling purchases and lowering commitments to buy more than 366,000 metric tons of U.S. Soybeans for the season ending August 31. This data is according to the U.S. Department of Agriculture data released for the week ended June 28.
Soybeans have been a key issue in the increased tensions between China and the United States as China is the world’s biggest importer and America’s largest customer. No word yet on what specific impacts this will have on Farmers in the U.S.
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